This year’s budget is going to be unlike any other budget we have witnessed before. The Union Budget 2021 is going to be a unique on because the country, for the first time, entered a recession -23.9 percent and -7.5 percent GDP growth in the Q1 and Q2 respectively of FY21. Moreover, for the first time in the history of independent India, the budget will be paperless and “Union Budget Mobile App” will be launched to provide a hassle-free access to budget documents by Members of Parliament and the general public. It is expected that the budget will unlike anything seen in the last 100 years with the main focus on addressing the challenges of slowing demand, decreasing CapEx, massive unemployment and revenues that are expected to be lower than before. So let’s delve into the current situation and challenges faced by the Indian economy and try to find what citizens and key sectors expect from the Budget 2021.
Do give it a read and let us know your thoughts on the same.